OREANDA-NEWS. RAO "UES of Russia" held a public auction to sell its 49% stake in OAO "Kurgan Energy Retail Company".

The auction winner, OOO "ANTAL Trading Firm", purchased the shares at the reserve price of RUB80 million.

The reserve price of the shareholding of Kurgan Energy Retail Company equal to the market value was determined based on the report prepared by a consortium of independent appraisers.

The public auction was arranged by the Company's Accredited Agent, OAO "Urals Energy Management Company". Bids were accepted from 3 September through 14 September 2007.

After the auction, RAO "UES of Russia" and the auction winner signed the Auction Protocol and the Agreement for the Purchase of the shares in the energy retail company.

The auctions to sell the 48.4% stake in OAO "Energosbyt Rostovenergo", 55.13% of OAO "Stavropolenergosbyt, and 100% of OAO "Khakasenergosbyt" were not held today due to the second participant failing to appear at the auction, as under the auction rules, the auction should have at least two participants.